Authorities in northern Bac Ninh province pledged to create a more transparent and favourable investment environment for international businesses, particularly companies from the Republic of Korea (RoK), to operate in the locality effectively.
This commitment was made during a dialogue held in the locality on May 21 between representatives of the local Department of Taxation, other relevant bodies and more than 60 RoK businesses that are active in the locality.
Nguyen Van Hai, Head of the provincial Department of Taxation, affirmed that his agency will hold regular meetings with international firms, while providing them with up-to-date information on new tax regulations.
Representatives of the RoK enterprises requested easier tax and customs procedures. They also asked questions related to investment incentives and the detailed regulations on value added tax, among others.
According to the Vice Chairman of the Provincial People’s Committee, Nguyen Luong Thanh, Bac Ninh is home to 346 RoK-invested projects with a total capital of 4.95 billion USD, concentrated in the industrial parks Yen Phong, Que Vo, VSIP, Tien Son, and Thuan Thanh.
RoK businesses, mainly operating in electronics, the processing and support industry, and manufacturing, boost the locality’s socio-economic development and significantly contribute to the province’s budget.
On the same day as the dialogue in Bac Ninh, a similar event was held in the northern province of Hai Duong, with the participation of 120 domestic and international firms operating in the locality.
Participants discussed policies and issues related to the laws on labour, insurance and the management of international employees.
Hai Duong is currently pursuing administrative reform, simplifying investment procedures and increasing management in a bid to attract an investment capital of 200 million USD in 2015.
Close to 300 foreign-invested projects from 24 countries and territories are operating in the province, generating over 140,000 jobs.-VNA
This commitment was made during a dialogue held in the locality on May 21 between representatives of the local Department of Taxation, other relevant bodies and more than 60 RoK businesses that are active in the locality.
Nguyen Van Hai, Head of the provincial Department of Taxation, affirmed that his agency will hold regular meetings with international firms, while providing them with up-to-date information on new tax regulations.
Representatives of the RoK enterprises requested easier tax and customs procedures. They also asked questions related to investment incentives and the detailed regulations on value added tax, among others.
According to the Vice Chairman of the Provincial People’s Committee, Nguyen Luong Thanh, Bac Ninh is home to 346 RoK-invested projects with a total capital of 4.95 billion USD, concentrated in the industrial parks Yen Phong, Que Vo, VSIP, Tien Son, and Thuan Thanh.
RoK businesses, mainly operating in electronics, the processing and support industry, and manufacturing, boost the locality’s socio-economic development and significantly contribute to the province’s budget.
On the same day as the dialogue in Bac Ninh, a similar event was held in the northern province of Hai Duong, with the participation of 120 domestic and international firms operating in the locality.
Participants discussed policies and issues related to the laws on labour, insurance and the management of international employees.
Hai Duong is currently pursuing administrative reform, simplifying investment procedures and increasing management in a bid to attract an investment capital of 200 million USD in 2015.
Close to 300 foreign-invested projects from 24 countries and territories are operating in the province, generating over 140,000 jobs.-VNA
